Cameco: Canaccord Anticipates Mixed Results For Q2 2022

Cameco (TSX: CCO) is expected to report its second quarter financial results on July 27 before the market opens. In Canaccord’s preview, they reiterate their buy rating and C$43 12-month price target, saying, “we remain fundamentally bullish on the outlook for uranium, we remain cautious going into Cameco’s Q2 results.”

There are currently 13 analysts covering the stock with an average 12-month price target of C$43.40, or an upside of 44%. Out of the 13 analysts, 3 have strong buy ratings, 8 have buy ratings, and 1 analyst has a hold rating on the stock. The street high price target sits at C$48, which comes from two analysts and represents an upside of 60%.

For the results, Canaccord expects Cameco to report mixed results and believes investors might have too high of hopes on the contracting volumes. Even with this, they expect Cameco to highlight the positives that have happened over […]

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